- An employer is responsible for Workers Compensation in case the worker sustains injury while working for the employer. This 'is an example of ________ liability.
- In Fire Declaration policy, if declarations are not received within a specified period then :-
The full sum insured under the policy shall be deemed to have been declared
- The owner of unimproved land is exposed to reduction in value of land.
- ________ risks affect a larger strata of society e.g. unemployment, inflation etc.
- What loss does an All Risk policy not cover?
Arising from mildew , Arising from war
- If the policy is cancelled at the option of the Insurer, refund of premium shall be :-
On pro-rata basis
- Proposal Form is to be signed by the agent.
- Boiler Explosion Policy is issued for
- Which of the following are tangible personal property?
Pets , Furs , Motor cycle
- For extension of cover under Boiler Explosion Policy for Owner’s Surrounding Property the premium is charged
25 % of basic rate.
- No claim bonus - Is a discount allowed on own damage premium at the renewal.
Replacement of parts made of glass - Nil depreciation
Depreciation / wear and tear - Is excluded from motor insurance policy
Ambulance - Misc. type of vehicle
- Loss or damage due to willful misconduct of Assured can be covered by additional premium under ICC-A clause.
- Minimum premium for open policy is :-
- There are three policies covering the same building, which is damaged due to fire and the loss incurred is Rs.60,000/-. If policy A covers a sum insured of Rs.300,000/-, B of Rs.200,000/- and C of Rs.100,000/-, then amount of claim payable under each policy will be :-
A-30,000 B-20,000 C-10,000
- Which of the following are covered under electronic equipment insurance?
Electronic data processing machine , Telecommunication equipment , Electro medical installations
- The insurance contract terminates after over side of goods from overseas vessel after the expiry of :-
- External causes like carelessness of worker can be covered under Machinery Breakdown policy.